23 Mar 2017 16:23
Ad-hoc report
In compliance with Capital Markets Law no. 297/2004 and National Securities Commission Regulation no. 1/2006 on issuers and operations with securities
Date of report: March 23, 2017
Name of issuer: OMV Petrom S.A.
Headquarters: Bucharest, 22 Coralilor Street, District 1, ("Petrom City")
Telephone/fax number: +40 372 160697/ +40 372 868518
Sole registration number at the Trade Register Office: 1590082
Fiscal attribute: RO
Trade Register Number: J 40/8302/1997
Share capital: 5,664,410,833.5 RON
Regulated market on which the issued shares are traded: Bucharest Stock Exchange and London Stock Exchange
Significant event to be reported:
Change of compliance status with the Bucharest Stock Exchange Corporate Governance Code, following establishment of a Presidential and Nomination Committee of the Supervisory Board
The Supervisory Board of OMV Petrom SA approved on March 23, 2017 the set-up of a Presidential and Nomination Committee, composed of four members appointed by the Supervisory Board amongst its members, namely Rainer Seele (President), Manfred Leitner (Deputy President), Dan Manolescu (member - independent) and Joseph Bernhard Mark Mobius (member).
The main role of the Presidential and Nomination Committee is to be involved in the succession planning for the Executive Board, having full responsibility on the selection process of candidates for appointment in Executive Board. In addition, the Presidential and Nomination Committee has the right to make recommendations concerning the proposal of candidates for appointment in the Supervisory Board.
Consequently, OMV Petrom SA announces the change, effective starting March 23, 2017, of its compliance status with provision A.11 of the Bucharest Stock Exchange Corporate Governance Code, namely "The Board of Premium Tier companies should set up a nomination committee formed of non-executives, which will lead the process for Board appointments and make recommendations to the Board. The majority of the members of the nomination committee should be independent." from "non-compliance" to "partial compliance", given that currently the Nomination and Presidential Committee has only one independent member.
Mariana Gheorghe
Chief Executive Officer
President of the Executive Board